Key players in the European External Neurostimulation / Neuromodulation devices Market are Boston Scientific Corp. (U.S.), St. Jude Medical, Inc. (U.S.), Enteromedics, Inc. (U.S.), Dynatronics Corp. (U.S.) & others.
(PRWEB) September 15, 2014
The external Neurostimulation\Neuromodulation devices report defines and segments the concerned market in Europe with analysis and forecast of revenue. The market was valued $153.2 million in 2012 and is projected to grow at a developing CAGR of 10.5% from 2013 to 2018.
Browse through the TOC of the external neurostimulation\neuromodulation devices market, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation of the market in the same region, and is supported by various tables and figures.
Europe accounts to be the second largest market for external neurostimulation/neuromodulation devices due to its rapidly aging population and higher incidence of chronic disorders, wide range of applications, and cost-effectiveness of the device. The European external neurostimulation/neuromodulation devices market is expected to grow at a CAGR of 10.5% in the next five years, primarily due to technical advances and patient-friendly techniques, such as minimally non-invasive procedures.
The procedure volume growth is significantly higher in Germany, France, and Italy as a result of fast disease progression, higher prevalence, improving healthcare infrastructure, economic growth, broadening insurance coverage, expanding private healthcare sector, and the increasing awareness amongst people. On the basis of types, the external neurostimulation / neuromodulation devices segments itself into transcutaneous electrical nerve stimulation (TENS) and transcranial magnetic stimulation (TMS) devices, these devices also experience a positive growth owing to an increased awareness for procedures and sophisticated diagnostic techniques. Amongst them, TENS devices have an accountable market size as they are inexpensive, easily available to the end-users, and are self-administered.
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The lack of stringent regulations pertaining to these devices and wide usage by the end-users without medical prescription is also propelling their growth. Europe also turns out to be a preferred market for new product launches because of the ease in the process of gaining the CE mark approval process for medical devices, especially for neuromodulation, in comparison with the FDA process. However, the major restraints of this market are less-effective outcomes of the devices.
This market is segmented and forecast on the basis of types and the modalities of External neurostimulation\neuromodulation devices in the European region. The market divides itself into transcutaneous electrical nerve stimulation (TENS) and transcranial magnetic stimulation (TMS) devices. On the basis of surgery procedures, the market is segmented into direct nerve repair, nerve grafting, and stem cell therapy. The market is further segmented and forecast on the basis of major countries, such as the Germany, France, the U.K., Italy, and Spain.
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This report also includes the market share, value chain analyses, and market metrics such as drivers, restraints, and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of the key players in the market including the major companies which are into external neurostimulation\neuromodulation devices procedural products.
North American External Neurostimulation / Neuromodulation devices Market
The report analyzes the external neurostimulation / neuromodulation devices market segmentation by 2 segments, namely, transcutaneous electrical nerve stimulation (TENS) and transcranial magnetic stimulation (TMS). All these segments experienced a positive growth till 2012, owing to an increased awareness for procedures and sophisticated diagnostic techniques. With a market value of $0.4 and $0.1 billion, the transcutaneous electrical nerve stimulation (TENS) and transcranial magnetic stimulation (TMS) have been contributing around 80% and 21% towards the total external neuromodulation device market.
The procedure volume growth is significantly higher in this region as a result of fast disease progression, higher prevalence, improving healthcare infrastructure, economic growth, broadening insurance coverage, expanding private healthcare sector, and increasing awareness amongst people.
Asian External Neurostimulation / Neuromodulation Market
TENS devices have an accountable market size as they are inexpensive, easily available to end-users, self-administered. The lack of tight regulations pertaining to these devices and wide usage by end-users without medical prescription is also propelling their growth. However, the treatment is found to be less effective in the long run, and this factor will restrain the growth of the external neurostimulation market.
The Asian external neurostimulation market is mainly driven by the aging population, higher incidence of chronic disorders, wide range of applications, cost-effectiveness of the device, and the rise in the demand of non–invasive therapy, among others. However, the major restraints of this market are less-effective outcomes of the device, less-advanced technology as compared to TMS, and evidence of the device providing better results when used with other non-invasive neuromodulation devices.
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